{"id":213992,"date":"2016-05-13T10:23:37","date_gmt":"2016-05-13T10:23:37","guid":{"rendered":"http:\/\/citifmonline.com\/?p=213992"},"modified":"2016-05-13T10:23:37","modified_gmt":"2016-05-13T10:23:37","slug":"goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/","title":{"rendered":"Goil to take over &#8216;smaller&#8217; OMCs to develop petroleum sector &#8211; MD"},"content":{"rendered":"<p style=\"text-align: justify;\">State owned oil marketing company, Goil has hinted to <strong>Citi Business News<\/strong> plans to acquire smaller OMCs to consolidate its operations in the retail of petroleum products.<\/p>\n<p style=\"text-align: justify;\">[contextly_sidebar id=&#8221;d4OZNNTbL9yxiCOyUIcWTBd2XaZo5k7Z&#8221;]The decision also comes at a time when some players in the oil and gas industry have advocated consolidation of the numerous OMCs to improve the downstream sector of the petroleum industry.<\/p>\n<p style=\"text-align: justify;\">Goil contends that the fragmented nature of OMCs in the country has affected the viability of some companies and made the local market prone to take-over by foreign entities.<\/p>\n<p style=\"text-align: justify;\">&#8220;The oil marketing industry in Ghana is highly fragmented; we have eighty-five OMCs operating in this small economy, so you realize that it is a very fragmented industry,&#8221; Managing Director of Goil, Patrick Akorli stated.<\/p>\n<p style=\"text-align: justify;\">There are currently about eighty-five (75) OMCs operating in Ghana.<\/p>\n<p style=\"text-align: justify;\">Statistics also show that Goil led its two main competitors, Shell and Total between January to May 2015, with its the market share of gasoline and gasoil for which were 16.5% and 13.5% respectively.<\/p>\n<p style=\"text-align: justify;\">Patrick Akorli also tells <strong>Citi Business News<\/strong> his outfit will consider acquiring underperforming petroleum retailers to strengthen Goil\u2019s competitiveness in the oil and gas industry.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat Goil is trying to do is that we are trying to push our head and make sure we become number one and other smaller indigenous companies will come behind us because a lot of them are in distress. We don\u2019t want to wait and allow the multinationals to come and acquire them,\u201d he stated.<\/p>\n<p style=\"text-align: justify;\">Goil is also engaging in an expansion project in the Western region to enable it engage in the sale of Marine Gas Oil.<\/p>\n<p style=\"text-align: justify;\">This led to the construction of a storage facility at the Takoradi harbour.<\/p>\n<p style=\"text-align: justify;\">The company has also installed three large storage tankers; two with 1200 litres capacity each and the third with a 1450 litre capacity.<\/p>\n<p style=\"text-align: justify;\">With these installations, Patrick Akorli is optimistic local companies can take over the retail market and avoid dominance by foreign companies.<\/p>\n<p style=\"text-align: justify;\">\u201cIt is time for us to retain fuel in Ghana and we want to ensure that those smaller indigenous oil companies who will be in distress, Goil will be able to assist them, bring them behind us so that Ghanaians can dominate this downstream market,\u201d he\u00a0further stressed.<\/p>\n<p style=\"text-align: justify;\">&#8211;<\/p>\n<p style=\"text-align: justify;\">By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State owned oil marketing company, Goil has hinted to Citi Business News plans to acquire smaller OMCs to consolidate its operations in the retail of petroleum products. [contextly_sidebar id=&#8221;d4OZNNTbL9yxiCOyUIcWTBd2XaZo5k7Z&#8221;]The decision also comes at a time when some players in the oil and gas industry have advocated consolidation of the numerous OMCs to improve the downstream [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":213994,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,170,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goil to take over &#039;smaller&#039; OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goil to take over &#039;smaller&#039; OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"State owned oil marketing company, Goil has hinted to Citi Business News plans to acquire smaller OMCs to consolidate its operations in the retail of petroleum products. [contextly_sidebar id=&#8221;d4OZNNTbL9yxiCOyUIcWTBd2XaZo5k7Z&#8221;]The decision also comes at a time when some players in the oil and gas industry have advocated consolidation of the numerous OMCs to improve the downstream [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/\" \/>\n<meta property=\"og:site_name\" content=\"Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/citi97.3\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-13T10:23:37+00:00\" \/>\n<meta name=\"author\" content=\"Kojo Akoto Boateng\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@citi973\" \/>\n<meta name=\"twitter:site\" content=\"@citi973\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kojo Akoto Boateng\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/\",\"url\":\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/\",\"name\":\"Goil to take over 'smaller' OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always\",\"isPartOf\":{\"@id\":\"https:\/\/citifmonline.com\/#website\"},\"datePublished\":\"2016-05-13T10:23:37+00:00\",\"dateModified\":\"2016-05-13T10:23:37+00:00\",\"author\":{\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\"},\"breadcrumb\":{\"@id\":\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/citifmonline.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goil to take over &#8216;smaller&#8217; OMCs to develop petroleum sector &#8211; MD\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/citifmonline.com\/#website\",\"url\":\"https:\/\/citifmonline.com\/\",\"name\":\"Citi 97.3 FM - Relevant Radio. Always\",\"description\":\"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/citifmonline.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1\",\"name\":\"Kojo Akoto Boateng\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/citifmonline.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g\",\"caption\":\"Kojo Akoto Boateng\"},\"url\":\"https:\/\/citifmonline.com\/author\/kojo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goil to take over 'smaller' OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/","og_locale":"en_US","og_type":"article","og_title":"Goil to take over 'smaller' OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always","og_description":"State owned oil marketing company, Goil has hinted to Citi Business News plans to acquire smaller OMCs to consolidate its operations in the retail of petroleum products. [contextly_sidebar id=&#8221;d4OZNNTbL9yxiCOyUIcWTBd2XaZo5k7Z&#8221;]The decision also comes at a time when some players in the oil and gas industry have advocated consolidation of the numerous OMCs to improve the downstream [&hellip;]","og_url":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/","og_site_name":"Citi 97.3 FM - Relevant Radio. Always","article_publisher":"https:\/\/www.facebook.com\/citi97.3","article_published_time":"2016-05-13T10:23:37+00:00","author":"Kojo Akoto Boateng","twitter_card":"summary_large_image","twitter_creator":"@citi973","twitter_site":"@citi973","twitter_misc":{"Written by":"Kojo Akoto Boateng","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/","url":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/","name":"Goil to take over 'smaller' OMCs to develop petroleum sector - MD - Citi 97.3 FM - Relevant Radio. Always","isPartOf":{"@id":"https:\/\/citifmonline.com\/#website"},"datePublished":"2016-05-13T10:23:37+00:00","dateModified":"2016-05-13T10:23:37+00:00","author":{"@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1"},"breadcrumb":{"@id":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/citifmonline.com\/2016\/05\/goil-to-take-over-smaller-omcs-to-develop-petroleum-sector-md\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/citifmonline.com\/"},{"@type":"ListItem","position":2,"name":"Goil to take over &#8216;smaller&#8217; OMCs to develop petroleum sector &#8211; MD"}]},{"@type":"WebSite","@id":"https:\/\/citifmonline.com\/#website","url":"https:\/\/citifmonline.com\/","name":"Citi 97.3 FM - Relevant Radio. Always","description":"Ghana News | Ghana Politics | Ghana Soccer | Ghana Showbiz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/citifmonline.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/1642ef473fe39bf0c4e2f2f252678eb1","name":"Kojo Akoto Boateng","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/citifmonline.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba51f5385119e83762c67ecd6aa410ab?s=96&d=mm&r=g","caption":"Kojo Akoto Boateng"},"url":"https:\/\/citifmonline.com\/author\/kojo\/"}]}},"_links":{"self":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/213992"}],"collection":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/comments?post=213992"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/posts\/213992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media\/213994"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/media?parent=213992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/categories?post=213992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/wp-json\/wp\/v2\/tags?post=213992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}